Bitcoin has surged past the $120,000 mark as of October 3, 2025, fueled by trader expectations for a short squeeze. This movement has impacted Ethereum, Solana, and other major cryptocurrencies globally, leading to market volatility. Analysts attribute this surge to accumulating behavior from institutional investors. The rally marks Bitcoin’s longest climb since March 2024 and is indicative of potential short squeeze situations. Major cryptocurrency platforms like Ethereum and Solana have experienced gains in tandem with Bitcoin’s upward movement. On-chain data indicates significant wallet accumulation, suggesting confidence within the market. Bitcoin’s price currently stands at $120,937.61, indicating reduced seller pressure and bullish sentiment. Historical patterns suggest a short squeeze could trigger further volatility and potential gains in the cryptocurrency market. The past has shown similar conditions leading to rapid price surges. Experts from Kanalcoin highlight that the current market dynamics are ripe for another potential rally in other crypto assets. Past data and wallet accumulation trends indicate significant investor interest.